What is Cash Out?
Cash out is a wonderful betting feature that allows you to end your bets and claim some money while events in your betslip are still on-going.
The value of the cash out amount may be greater or less than your initial stake, depending on the time you choose to cash out and how close you are to winning your bets. The value is always less than the potential winnings on your initial bets.
Cash out allows you to retreat from your bet and reclaim your money!
If you are close to winning your bet, the cash out value will be close to your potential winnings, but if your bet is losing, the amount will likely be lower than your initial stake. You can then accept the cash out offer and cut your losses. Like they say, half bread is better than none.
The cash out option is available for both pre-match and live betting, and can be used on both single and multiple bets. In this article, we will tell you all you need to know about the cash out feature, including the types of cash out and the betting sites that have the best cash out options.
Why is Cash Out important?
Depending on the state of your bet, cash out allows to cut your losses or make some profit by terminating the bet while the events in the betslip are still going on.
Imagine a situation where nine events in your 10-game accumulator have come good. The cash out option gives you the option to close the bet and avoid the stress of waiting out the final event. Because you are very close to winning your bet, the cash out amount will be very close to your potential winnings. Hence, you will make some very decent profit.
Whether it’s a profit or loss, cash out guarantees that you will make some money from your bets, which is never a bad thing!
Who knows if that final event has been sent by your village people to destroy all your hard work? With cash out, you can take power away from these people, take control of your bet and protect your money!
In a scenario where your bet is losing, cash-out allows you to cut your losses and regain some money. The value of the cash-out amount will be lower than your stake, but at least you get to recoup some of your cash!
Types of Cash Out
Cash Out functions under a general principle: It allows you to close your bets and claim some money while the events on your bets are still going on. However, the feature also has different variants.
A cash out offer may be any of the following:
- Full Cash Out
- Partial Cash Out
- Auto Cash Out
Full Cash Out
This is pretty straightforward. If you cash out fully, you are withdrawing all the available money in the cash out offer. This is the most basic form of cash out, and can be found on most bookmakers in Nigeria.
Partial Cash Out
Partial cash out gives you the option of cashing out on a percentage of your stake, while leaving the remaining percentage to run on the initial bet.
For example, if you stake N20,000 on Manchester United to beat Real Madrid, at odds of 4.0, the potential winning is N80,000.
If Manchester United are leading 1-0 at half time, you may get a cash out offer of N50,000. If partial cash out is available, you can choose to cash out on a fraction of your stake and leave the other part to run normally.
Let's assume you choose to do a partial cash out of 50%, your cash out amount will be approximately N25,000, which is half the value of the full cash out amount. In this case, you have settled 50% of your stake, while the other 50% (N10,000) stays in the bet.
Auto Cash Out
Usually, when you cash out, you do it while monitoring your bets on your smart phone or on a computer screen, but the amazing auto cash out feature allows you to end your bets even when you are away from the internet.
So, if you think you'd be too busy to track the events on your betslip, you can use the auto cash out function to set your cash out parameters.
How does it work? Well, all you have to do is to set a cash out amount after placing your bet. Once the cash out value reaches that amount, your bet automatically ends and your account is credited with the cash out value.
Best Cash Out in Nigeria
Most bookmakers have the cash out feature, but some are more generous with their offers than others. During our review, we found that particularly one Nigerian betting site has a better cash out feature than the other bookmakers!
When should I Cash out?
The cash out option is not present at all times, so it is important to consider it very carefully whenever the offer is available. Deciding whether or not to cash out can be very difficult, especially when your bet is going very well.
If you accept the offer, the cash out amount will be less than your potential winnings, but if you reject the offer, you may end up winning nothing. An unwritten rule is that you should cash out when the profit is significant instead of taking a chance and ending up with nothing.
Quote: Cash out offers do not last for the entire match, and can be taken away at the bookmaker’s discretion without any prior warning.
The decision to cash out or not is easier when your bet is losing. Once it is evident that your prediction is unlikely to happen, you can cash out and get back a percentage of your stake. You no longer have to wait hopelessly and helplessly and watch painfully as that team you have backed destroys your bet!
You can cash out on all types of bets, including live bets and pre-game bets. You can even cash out before the start of the events in a pre-game bet.
How does Cash Out Work: An example
Let us assume that you have placed a live bet on Arsenal to beat Liverpool at odds of 3.0, yielding potential winnings of N30,000. If Arsenal have a 2-0 lead at half time, a bookmaker may give you a cash out offer of N20,000. This value is greater than your stake because your bet is going very well, but less than your potential winnings.
You can then decide between taking the cash out money, or trusting Arsenal to hold on to the lead for the rest of the match. If Arsenal get the win at the end of the match, you get your N30,000; if they don't win, you get nothing.
You can now end your bets and protect them from your village people, thanks to the cash out option!
On the flip side, if Liverpool have the 2-0 half-time lead, the cash out amount will most likely be lower than your stake, say, N6000, because you are very far from winning the live bet.
The smart thing to do in this case would be to accept the offer and cut your losses.
The other option would be to reject the offer and hope for a dramatic Arsenal fight back. If that fight back does not happen by the end of the match, you walk away with nothing.
The further you are from winning your bets, the lower the value of your cash out amount. For instance, if Arsenal are still losing 2-0 after 75 minutes, the cash out value may drop to N3000. At some point, the offer will be withdrawn.
Now that you understand the concept of cashing out, and know the betting sites that have the best cash out features, why don't you go ahead and sign up with one of these sites to have a feel of what we have been discussing. It's guaranteed fun.
Here's a list of betting sites that allow cash out:
Betting sites that allow cash out
Free Bets Up To ₦100,000
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120% Bonus Up To ₦120,000
Betting Bonus Up To 225%!
100% Bonus Up To ₦100,000
+50% Casino Bonus
100% Up To ₦100,000
Up to $30 in Bet Credits
100% Up To ₦50,000
200% up to ₦100 000
110% Bonus Up To ₦50,000